23 Nov - Hellenic Shipping News Worldwide · 2018. 11. 26. · 1 23 Nov ±∆ ±% BDI 1,093 p 62 6.0% BCI 1,358 p 301 28.5% BPI 1,376 q -77 -5.3% BSI 952 q -17 -1.8% BHSI 635 q -11

1

23 Nov ±∆ ±%BDI 1,093 p 62 6.0%

BCI 1,358 p 301 28.5%

BPI 1,376 q -77 -5.3%

BSI 952 q -17 -1.8%

BHSI 635 q -11 -1.7%

W-O-W change

A month of sharp correc!ons and great asymmetries for the dry bulk sector, with the

overall overview of the market shi"ing rapidly from a state of extreme bullishness to

bearish in no !me at all. Not long-ago, statements like robust sen!ment, modest or-

derbook, sustainable fleet development, robust global economic growth and seaborne

trade were some of the favorites topics discussed by most op!mists in the market.

But now, given that the scene has changed completely, and the upward momentum

has faded away, what can we expect from the blurry picture presented in front of us?

At the beginning of September, a mere breath before the start of the final quarter of

2018, the exuberance was become apparent in the paper market, given that contracts

reached levels of even above US$ 26,000/day for the average of the BCI-5TC for 4th

quarter period. At that !me, and given that the previous year, for the same !me

frame, the actual market managed an average figure in the region of US$ 22,700/day

and the market was already on an upward path throughout 2018, the level being dis-

cussed seemed rather fair to most. Things were already turning sour however in Octo-

ber, with earnings averaging out at US$ 18,600/day and it quickly becoming obvious

that the Capesize segment wasn’t going to carry out its promise as originally thought.

But things didn’t stop there, and from the start of this month the overall segment was

on a sharp downward spiral, reaching even at levels that brought back memories of

the collapse in the dry bulk sector of 2016. So, to the very least we can say that the

market is in a “weird” state. The FFA market is now in a state of turmoil, showing

steep correc!ons in respect to forward returns, even for very forward contracts. On a

month-on-month basis, vola!lity for Capes has skyrocketed by almost 184% (using

the BCI benchmark index), breaking a long period of convergence towards a more

stable state.

Yet what must be stated is that it would be prudent not to rush back into an overly

bearish tone, on the back of just recent trends in the dry bulk freight market. It is im-

portant to men!on that other segments haven’t shows this kind of so"ening in their

average figures. Both the Panamax and Supramax indices witnessed a decline of just

below 14% in their mean on a month-on-month comparison. So, given the influen!al

a'ribute of the Capesize to the overall sector, the impressive resistance seen in the

smaller subsegments can be translated in two different ways, either that there are

strong fundamentals able to bear periodical nega!ve shi"s (i.e. minor bulk commodi-

!es are holding be'er), or we are speaking of an isolated and overexaggerated inci-

dent and the market will recover back to normality fairly quickly.

For the !me being the market is once again covered in shrouds of uncertainty, with

most interested par!es having already altered towards a more conserva!ve a+tude.

All-in-all, given that we are in a strong seasonal point in the year, we would expect

that a swi" recovery could take place, with the overall market, although, most proba-

bly finishing the year at mediocre levels given the extent of the downturn no!ced

these past weeks.

Thomas Chasapis

Research Analyst

19th - 23rd November 2018 | Week 47

Dry Bulk Freight Market

Secondhand Market

Newbuilding Market

Demoli!on Market

Economic Indicators

Tanker Freight Market

23 Nov ±∆ ±%BDTI 1,130 p 24 2.2%

BCTI 660 p 14 2.2%

W-O-W change

Avg Price Index (main 5 regions)

23 Nov ±∆ ±%Dry 351 p 6 1.7%

Wet 361 p 4 1.1%

W-O-W change

Aggregate Price Index

23 Nov ±∆ ±%Bulkers 97 u 0 0.0%

Cont 94 u 0 0.0%

Tankers 100 p 0 0.2%

Gas 91 u 0 0.0%

M-O-M change

23 Nov ±∆ ±%Gold $ 1,226 u 0 0.0%

Oil WTI $ 50 q -18 -26.9%

Oil Brent $ 58 q -21 -26.3%

Iron Ore 69 q -5 -6.2%

Coal 87 q -13 -12.7%

M-O-M change

Aggregate Price Index

23 Nov ±∆ ±%Capesize 63 q -1 -2.0%

Panamax 61 u 0 0.0%

Supramax 66 u 0 0.0%

Handysize 72 u 0 0.0%

M-O-M change

VLCC 88 p 4 5.2%

Suezmax 75 p 0 0.4%

Aframax 85 p 1 1.0%

MR 105 p 1 1.3%

19th - 23rd November 2018 | Week018 | We

2

2017 2018

19th - 23rd November 2018

Capesize – A fairly positive week was to be seen after a long trail of downward

corrections with the BDI improving this week with a gain of 28%. Rates were sup-

ported significantly in the Pacific basin, with increased activity playing its part.

Meanwhile, rumors for intensified interest from charterers in the Atlantic did not

materialize, yet support was seen in the market nonetheless. The Australia/China

route increased by around 10%, while Brazil/China went up by approximately 5%.

Panamax – Rates remained on a negative path for a second consecutive week,

with the BPI losing 5%. Limited enquiry and several unfixed tonnage in both the

North Atlantic and ECSA had a negative impact for the region’s freight rates,

while demand in the Pacific basin remained low as well. As a result the average

earnings reached the levels of around US$10,966 per day.

Supramax – A quiet week was to be seen here, with the national holidays in Japan

and the US leading to a limited reported activity during the week. However, rates

in the US Gulf, as well as N. Europe found some support due to tighter tonnage

lists. In contrast, freight rates for most of the routes in the Pacific followed a

downward slide movement as interest was soft while tonnage started to build up.

Handysize – Expected recovery on the demand side, especially from ECSA, did

not take place, as was initially expected, during the past week, with most now

anticipating the level of available cargoes to increase during December. Low inter-

est from the charterers side in the rest of the regions, continued to suppress

freight rates, though it seems as though we may have reached a temporary floor.

0

10

20

30

40'000 US$/day

19th - 23rd Novemberer 2 2018 2018

23 Nov 16 Nov ±% 2018 2017

Baltic Dry IndexBDI 1,093 1,031 6.0% 1,353 1,149

CapesizeBCI 1,358 1,057 28.5% 2,103 2,094

BCI 5TC $ 10,853 $ 8,804 23.3% $ 16,535 $ 15,190ATLANTIC RV $ 11,450 $ 8,650 32.4% $ 16,687 $ 15,774

Cont / FEast $ 22,068 $ 20,455 7.9% $ 31,075 $ 25,878PACIFIC RV $ 10,896 $ 8,867 22.9% $ 16,099 $ 14,983

FEast / ECSA $ 10,568 $ 8,818 19.8% $ 16,518 $ 14,537Panamax

BPI 1,376 1,453 -5.3% 1,451 1,221BPI - TCA $ 10,996 $ 11,622 -5.4% $ 11,644 $ 9,794

ATLANTIC RV $ 12,745 $ 13,400 -4.9% $ 11,923 $ 10,140Cont / FEast $ 19,112 $ 19,658 -2.8% $ 18,970 $ 15,918PACIFIC RV $ 8,307 $ 9,307 -10.7% $ 10,869 $ 9,195

FEast / Cont $ 3,818 $ 4,124 -7.4% $ 4,814 $ 3,923Supramax

BSI 952 969 -1.8% 1,037 846BSI - TCA $ 10,950 $ 11,006 -0.5% $ 11,525 $ 9,368

USG / FEast $ 25,436 $ 24,357 4.4% $ 22,701 $ 19,950Med / Feast $ 24,393 $ 23,279 4.8% $ 19,123 $ 15,733PACIFIC RV $ 8,317 $ 8,643 -3.8% $ 10,423 $ 8,054

FEast / Cont $ 4,780 $ 5,380 -11.2% $ 6,680 $ 4,503USG / Skaw $ 21,211 $ 20,235 4.8% $ 18,216 $ 15,683Skaw / USG $ 9,221 $ 9,228 -0.1% $ 8,048 $ 6,507

HandysizeBHSI 635 646 -1.7% 595 525

BHSI - TCA $ 9,176 $ 9,345 -1.8% $ 8,683 $ 7,668Skaw / Rio $ 8,880 $ 8,920 -0.4% $ 7,441 $ 6,455

Skaw / Boston $ 8,446 $ 8,458 -0.1% $ 7,414 $ 6,539Rio / Skaw $ 13,892 $ 14,090 -1.4% $ 11,624 $ 10,699

USG / Skaw $ 12,443 $ 12,676 -1.8% $ 10,567 $ 9,310SEAsia / Aus / Jap $ 7,508 $ 7,614 -1.4% $ 8,116 $ 7,199

PACIFIC RV $ 7,367 $ 7,693 -4.2% $ 8,091 $ 6,974

Spot market rates & indices Average

0

1,000

2,000

3,000

4,000

5,000

BDI BCI BPI BSI BHSI

0

5

10

15

20'000 US$/day

0

5

10

15'000 US$/day

0

3

6

9

12

15'000 US$/day

3

2017 2018

Crude Oil Carriers – With ac!vity showing signs of a rebound in the VL sector,

freight rates moved up last week. Charterers’ interest was focused on vintage

carriers, as they were looking for a significant discount. However, if demand con-

!nues to move on its current path, it is expected that interest for modern vessels

will intensify over the coming weeks. Suezmax carriers con!nued to show further

posi!ve gains, with fresh inquiry in WAF suppor!ng the market, while the Black

Sea/Med held stable. Finally, increased business reported in Med and a fair level

of fresh interest in the North Sea/Bal!c helped provided a boost for Aframaxes.

Oil Products – A posi!ve week for the DPP trade, as a significant rise in ac!vity

was witnessed last week in both the North Sea and Med, leading to !ghter ton-

nage list and a shar improvement in rates. Posi!ve movements were also seen in

most of the CPP trade routes, with fresh inquiry levels on the rise in most regions

and the availability of rela!vely prompt open tonnage narrowing down.

19th - 23rd November 2018 19th - 23rd NoNovevevember 2018 vembervembervemb

23 Nov 16 Nov ±% 2018 2017

Baltic Tanker IndicesBDTI 1,130 1,106 2.2% 761 788BCTI 660 646 2.2% 555 608

VLCCWS 40.69 39.64 2.6% 22.73 29.32

$/day $ 7,227 $ 4,971 45.4% -$ 10,733 -$ 2,206WS 92.60 90.67 2.1% 54.15 59.86

$/day $ 50,621 $ 47,925 5.6% $ 26,703 $ 45,754WS 91.35 89.58 2.0% 53.50 58.36

$/day $ 48,531 $ 45,962 5.6% $ 15,824 $ 22,702WS 90.00 87.50 2.9% 53.79 61.85

$/day $ 106,525 $ 101,502 4.9% $ 51,872 $ 70,814SUEZMAX

WS 132.50 117.50 12.8% 69.30 75.85$/day $ 78,713 $ 66,568 18.2% $ 30,989 $ 40,601

WS 178.61 172.78 3.4% 89.53 87.57$/day $ 68,431 $ 63,853 7.2% $ 12,939 $ 12,767

AFRAMAXWS 122.50 117.50 4.3% 105.50 101.90

$/day $ 18,186 $ 14,013 29.8% $ 4,575 $ 7,719WS 155.33 143.61 8.2% 102.01 108.74

$/day $ 18,616 $ 14,618 27.3% $ 4,888 $ 7,329WS 175.00 234.72 -25.4% 128.77 121.64

$/day $ 24,600 $ 41,826 -41.2% $ 10,734 $ 9,531WS 93.61 93.33 0.3% 83.88 81.96

$/day $ 18,006 $ 16,490 9.2% $ 9,498 $ 10,019DPP

WS 185.00 180.00 2.8% 126.60 129.23$/day $ 40,850 $ 38,585 5.9% $ 21,829 $ 26,317

WS 133.75 134.69 -0.7% 110.51 120.54$/day $ 11,017 $ 10,342 6.5% $ 8,172 $ 25,637

WS 151.56 123.75 22.5% 99.35 105.77$/day $ 23,576 $ 14,262 65.3% $ 8,094 $ 9,856

WS 168.89 148.89 13.4% 106.64 106.37$/day $ 33,205 $ 24,871 33.5% $ 8,577 $ 9,426

CPPWS 119.38 120.00 -0.5% 99.46 106.84

$/day $ 12,004 $ 11,515 4.2% $ 7,439 $ 9,016WS 150.71 140.00 7.7% 128.56 140.87

$/day $ 9,164 $ 6,863 33.5% $ 4,864 $ 7,272WS 160.00 160.00 0.0% 128.65 138.78

$/day $ 25,233 $ 24,791 1.8% $ 17,355 $ 22,286WS 153.13 151.25 1.2% 96.25 105.91

$/day $ 9,944 $ 9,194 8.2% $ 605 $ 2,859

MED-MED

CONT-USAC

USG-CONT

MEG-USG

MEG-SPORE

WAF-USG

BSEA-MED

MEG-SPORE

MEG-JAPAN

WAF-USAC

NSEA-CONT

CARIBS-USG

CARIBS-USAC

SEASIA-AUS

MEG-JAPAN

CARIBS-USAC

BALTIC-UKC

ARA-USG

Spot market rates & indices Average

250

450

650

850

1,050

1,250

BDTI BCTI

-10

10

30

50'000 US$/day

-20

0

20

40

60'000 US$/day

0

10

20

30'000 US$/day

5

10

15

20

25

30'000 US$/day

4

last 5 years

23 Nov 19 Oct ±% Min Avg Max

VLCC

$ 29,500 $ 27,500 7.3% $ 18,000 $ 30,601 $ 57,750

$ 25,750 $ 25,750 0.0% $ 22,000 $ 30,798 $ 45,000

Suezmax

$ 24,000 $ 17,500 37.1% $ 15,250 $ 23,050 $ 42,500

$ 19,500 $ 19,500 0.0% $ 17,000 $ 24,213 $ 35,000

Aframax

$ 18,500 $ 15,750 17.5% $ 13,000 $ 18,329 $ 30,000

$ 17,500 $ 17,000 2.9% $ 14,750 $ 18,955 $ 27,000

MR

$ 13,250 $ 12,250 8.2% $ 12,000 $ 14,738 $ 21,000

$ 14,250 $ 14,250 0.0% $ 14,000 $ 15,117 $ 18,250

12 months

36 months

12 months

36 months

Tanker period market TC rates

12 months

36 months

12 months

36 months

last 5 years


Capesize

$ 16,500 $ 20,250 -18.5% $ 6,200 $ 15,152 $ 31,450

$ 16,000 $ 20,500 -22.0% $ 6,950 $ 15,306 $ 25,200

Panamax

$ 11,750 $ 14,000 -16.1% $ 4,950 $ 10,084 $ 15,450

$ 11,750 $ 13,000 -9.6% $ 6,200 $ 10,422 $ 15,325

Supramax

$ 12,250 $ 13,500 -9.3% $ 4,450 $ 9,747 $ 13,950

$ 12,750 $ 12,250 4.1% $ 6,200 $ 9,765 $ 13,700

Handysize

$ 9,750 $ 10,250 -4.9% $ 4,450 $ 8,065 $ 11,200

$ 9,750 $ 9,250 5.4% $ 5,450 $ 8,226 $ 10,450

12 months

Dry Bulk period market TC rates

12 months

36 months

36 months

12 months

36 months

12 months

36 months

last 5 yearsDry Bulk period market TC rates


Latest indica!ve Dry Bulk Period Fixtures

Latest indica!ve Tanker Period Fixtures


7

9

11

13

15

17

19

21

23

5

7

9

11

13

15

56789

101112131415

4

5

6

7

8

9

10

11

12

17

19

21

23

25

27

29

31

15

17

19

21

23

25

12

13

14

15

16

17

18

19

11

12

13

14

15M/T ''BUNGA KASTURI DUA'', 300000 dwt, built 2005, $27,000, for 6

months trading, to KOCH

M/T ''LIBYA'', 160000 dwt, built 2007, $23,000, for 3/6 months trading, to

ST SHIPPING

M/T ''FSL SHANGHAI'', 115000 dwt, built 2007, $17,000, for 2 years

trading, to TEEKAY

M/T ''SPRUCE 2'', 74000 dwt, built 2008, $13,650, for 5/10 months trading,

to TRAFIGURA

M/T ''OMODOS'', 50000 dwt, built 2009, $13,000, for 1/2 years trading, to

KOCH

M/V ''STAR PATHFINDER'', 61298 dwt, built 2015, dely Makassar 25/26

Nov , $12250, for 2/4 months, to Oldendorff

M/V ''ALCMENE '', 93193 dwt, built 2010, dely Singapore prompt , $11500,

for 11/14 months, to BG Shipping

M/V ''PORTO LEONE '', 63756 dwt, built 2014, dely US Gulf prompt ,

$18000, for min 5/abt 6 months, to Medmar

M/V ''SIDERIS GS'', 174186 dwt, built 2006, dely Tianjin 15 Nov , $, for

min up to 15 Dec 2019/max up to 30 Mar 2010, 8,500 basis 1st 30 days

15,350 the balance, to Berge Bulk

M/V ''MAIA'', 82193 dwt, built 2009, dely Singapore 12 Nov , $13300, for

period upto min 1 January 2020-max 31 March 2020, to Glencore

5

Reported Transac!ons

A moderate week in terms of newbuilding activity, with few new

orders being reported during this past week. In the dry bulk segment,

we saw intensified interest for Kamsarmax as well as Ultramax carri-

ers, with two new orders being placed at Chinese shipyards for a

total of 13 vessels. With the high volatility of the Capesize market of

late, it is possible that owners have shifted their focus towards the

smaller sectors that are showing a more stable performance and in-

come stream. At the same time, momentum has improved for tank-

ers as well, with Greek buyers having showed rejuvenated appetite,

mirrored by the recent order for 4 Suezmaxes. Beyond this it seems

as though limited action was to be seen in other sectors for the time

being. Despite the fair bit of action witnessed over the past couple

of months, newbuilding prices seem to have still remained relatively

stable, though it most be noted that there is still a fair bit of expecta-

tion that this may well change before the end of the year.



10

20

30

40

50

Capesize Panamax Supramax Handysize

US$ million

30405060708090

100VLCC Suezmax Aframax LR1 MR

US$ million

Indicative Dry NB Prices (US$ million) last 5 years


Dry Bulkers

Capesize (180,000dwt) 50.0 50.0 0.0% 41.8 48.1 58.0

Kamsarmax (82,000dwt) 33.0 33.0 0.0% 24.3 27.6 33.0

Panamax (77,000dwt) 32.0 32.0 0.0% 23.8 26.8 32.0

Ultramax (64,000dwt) 31.0 31.0 0.0% 22.3 25.4 31.0

Handysize (37,000dwt) 26.0 26.0 0.0% 19.5 21.8 26.0

Container

Post Panamax (9,000teu) 82.5 82.5 0.0% 76.5 84.4 91.0

Panamax (5,200teu) 48.5 48.5 0.0% 48.0 52.5 58.5

Sub Panamax (2,500teu) 27.0 27.0 0.0% 26.0 29.3 33.0

Feeder (1,700teu) 21.5 21.5 0.0% 21.5 23.6 27.0

Indicative Wet NB Prices (US$ million) last 5 years


Tankers

VLCC (300,000dwt) 92.5 92.0 0.5% 80.0 90.5 101.0

Suezmax (160,000dwt) 60.5 60.5 0.0% 53.0 59.4 66.0

Aframax (115,000dwt) 50.0 50.0 0.0% 43.0 49.2 55.0

LR1 (75,000dwt) 48.0 47.8 0.5% 40.5 44.1 48.0

MR (56,000dwt) 36.5 36.5 0.0% 32.5 34.9 37.3

Gas

LNG 160k cbm 184.0 184.0 0.0% 184.0 194.8 200.0

LPG LGC 80k cbm 70.0 70.0 0.0% 70.0 73.6 80.0

LPG MGC 55k cbm 62.0 62.0 0.0% 62.0 64.5 68.5

LPG SGC 25k cbm 40.0 40.0 0.0% 40.0 42.4 45.5

Type Units Shipbuilder Price Buyer Delivery Comments

BULKER 1 83,500 dwt JIANGSU NEW YZJ, China N/A KCC AS, Norway 2020

BULKER 82,000 dwt

BULKER 64,000 dwt

TANKER 2 + 2 156,000 dwt NEW TIMES SB, China N/A NGM Energy SA, Greece 2020/2021

TANKER 2 + 1 22,000 dwt WUHU SHIPYARD, China N/A Donso Shipping, Sweden 2020 IMO II

CONT 5 + 5 2,200 teu JIANGNAN SHIPYARD, China N/A MAERSK, Denmark 2020In the process of

negotiations

MPP 5 + 4 62,000 dwtDALIAN COSCO KHI SHIP

ENG, ChinaN/A

COSCO SHIPPING

SPECIALISED CARRIERS,

China

2020/2021

OFFSH 1 300,000 dwtSHANGHAI WAIGAOQIAO

SHBLDG, ChinaN/A

SBM OFFSHORE,

Netherlands2021

Size

mix of 12 Ultramax and

KamsarmaxNew Dayang Shipyard, China N/A CDB FL, China 2020

6

Indicative Dry Bulk Values (US$ million)


Capesize180k dwt Resale 52.50 52.50 0.0% 34.5 46.6 65.0180k dwt 5 year old 36.00 36.50 -1.4% 23.0 34.3 53.0170k dwt 10 year old 24.50 25.50 -3.9% 12.0 22.6 38.0150k dwt 15 year old 15.50 16.00 -3.1% 6.5 13.7 25.0Panamax82k dwt Resale 31.50 31.50 0.0% 22.5 28.6 34.082k dwt 5 year old 23.00 23.00 0.0% 11.5 19.7 28.076k dwt 10 year old 15.50 15.50 0.0% 7.3 13.5 23.074k dwt 15 year old 9.50 9.50 0.0% 3.5 8.6 14.5Supramax62k dwt Resale 28.50 28.50 0.0% 19.0 26.7 33.058k dwt 5 year old 18.50 18.50 0.0% 11.0 18.0 27.056k dwt 10 year old 14.25 14.25 0.0% 6.0 12.9 22.052k dwt 15 year old 9.25 9.25 0.0% 3.5 8.2 13.5Handysize37k dwt Resale 24.50 24.50 0.0% 17.0 21.7 26.037k dwt 5 year old 15.50 15.50 0.0% 7.8 14.6 21.032k dwt 10 year old 11.50 11.50 0.0% 6.0 10.4 16.028k dwt 15 year old 7.25 7.25 0.0% 3.5 6.5 11.0

last 5 years



Despite the sharp downward correction seen in the freight market

these past couple of weeks, SnP activity has still remained at fair

levels for the time being. However, it must be noted that interest

was focused on Panamax and Supramax tonnage in its most part.

Specifically, 5 Panamax and 3 Supramax vessels have changed hands

this week, as well as 1 Capesize and 2 Handymax. Interest for SnP

deals is expected to continue over the coming month, while senti-

ment seems to be still weathering relatively well for now.

On the tanker side, another week with a fair amount of SnP transac-

tions being witnessed in both the crude oil and product tanker seg-

ments. The improved freight market has played a major role while

many still see this sector as an opportunity for bargain deal hunting.

With the discount between second-hand and newbuilding carriers

still at fair levels, this should help keep buying appetite on the rise.

-1%

-3%

-1%

+6%

-4%

-2%

0%

2%

4%

6%

8%

1 month diff 3 months diff6 months diff 12 months diff

+0% +0%

-4%

+5%

-5%

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%


+0% +0% +0%

+9%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%


+0%

-3%

+0%

+15%

-6%-4%-2%0%2%4%6%8%

10%12%14%16%


+2%

+4% +4%

+6%

0%

1%

2%

3%

4%

5%

6%


+0%+1%

+2%

+11%

0%

2%

4%

6%

8%

10%

12%


+2%

+0%

+3%

+5%

0%

1%

2%

3%

4%

5%

6%


+0%

+3%+2%

+14%

0%

2%

4%

6%

8%

10%

12%

14%

16%


Indicative Tanker Values (US$ million)


VLCC310k dwt Resale 92.00 90.00 2.2% 80.0 91.4 105.0310k dwt 5 year old 66.50 65.00 2.3% 55.0 68.0 84.0250k dwt 10 year old 42.50 41.00 3.7% 34.5 45.1 59.0250k dwt 15 year old 28.00 25.00 12.0% 18.7 28.1 41.0Suezmax160k dwt Resale 62.00 61.25 1.2% 53.0 61.9 73.0150k dwt 5 year old 44.50 44.50 0.0% 38.0 47.6 62.0150k dwt 10 year old 27.25 27.25 0.0% 24.0 32.1 44.5150k dwt 15 year old 17.00 17.00 0.0% 14.0 18.6 23.0Aframax110k dwt Resale 47.25 47.25 0.0% 39.0 48.3 57.0110k dwt 5 year old 32.00 31.50 1.6% 27.0 35.4 47.5105k dwt 10 year old 20.00 19.50 2.6% 17.0 23.1 33.0105k dwt 15 year old 11.25 11.25 0.0% 8.0 13.2 20.0MR52k dwt Resale 37.00 36.25 2.1% 33.0 36.1 39.052k dwt 5 year old 27.25 27.25 0.0% 23.0 26.2 31.045k dwt 10 year old 15.00 14.50 3.4% 14.5 17.6 21.045k dwt 15 year old 9.25 9.25 0.0% 9.0 10.8 13.5

last 5 years

7

19th - 23rd November 2018 19th - 23rd November 2018

Size Name Dwt Built Shipbuilder M/E Coating Price Buyers Comments

SUEZ TOLEDO SPIRIT 159,342 2005 DAEWOO SB/ME,

S. KoreaB&W $ 19.0m Greek - Eurotankers

AFRA YASA GOLDEN HORN 116,095 2007 SAMSUNG HI, S.

KoreaMAN-B&W $ 19.0m Asian DD due Jan '19

AFRA SINGAPORE RIVER 115,126 2009 SASEBO SASEBO,

JapanMAN-B&W $ 23.2m undisclosed

AFRA AEGEAN FAITH 106,074 2003 HYUNDAI HEAVY

INDUSTRI, S. KoreaMAN-B&W

EPOXY

Coated$ 12.3m Greek

MR ALPINE MYSTERY 49,999 2009 HYUNDAI MIPO, S.

KoreaMAN-B&W $ 16.9m

MR ALPINE MINUTE 49,999 2009 HYUNDAI MIPO, S.

KoreaMAN-B&W $ 16.9m

MR HIGH PEARL 48,023 2009 IWAGI, Japan MAN-B&W $ 16.0mMonaco based -

Transocean

PROD/

CHEMAI GIANNIS 15,748 1998

LINDENAU,

GermanyMaK $ 4.8m undisclosed

Size Name Dwt Built Shipbuilder M/E Gear Price Buyers Comments

CAPESOUTHERN

EXPLORER177,493 2002

MITSUI CHIBA

ICHIHARA, JapanB&W $ 13.0m Greek

PMAX OCEAN WIND 76,585 2006 IMABARI

MARUGAME, JapanMAN-B&W $ 10.7m Greek

PMAX SILVER PHOENIX 74,759 2006

HUDONG-

ZHONGHUA

SHIPBU, China

MAN-B&W $ 9.4m Chinese

PMAX NAVIOS MAGELLAN 74,333 2000 NAMURA IMARI,

JapanB&W $ 7.0m undisclosed

PMAX GENCO KNIGHT 73,941 1999

OSHIMA

SHIPBUILDING,

Japan

Sulzer $ 6.7m undisclosed

PMAX GENCO VIGOUR 73,941 1999

OSHIMA

SHIPBUILDING,

Japan

Sulzer $ 6.7m undisclosed

HMAX FORTIS AMALTHEA 47,263 1999

OSHIMA

SHIPBUILDING,

Japan

B&W4 X 25t

CRANES$ 6.4m undisclosed

HMAX AYIA MARINA 45,217 1996 KANASASHI -

TOYOHASHI, JapanMitsubishi

4 X 25t

CRANES$ 4.0m Chinese bss DD due Feb '19

Tankers

Bulk Carriers

Danish - Norden BWTS on order

8


Type Name Dwt Built Shipbuilder M/E Gear Price Buyers Comments

General

Cargo

LAO CHUAN ZHANG

71721,500 2009

TAIZHOU

YUANYANG SHIPB,

China

Guangzhou N/A Chinese

General

Cargo

LAO CHUAN ZHANG

172,293 2007 HAIDONG, ChinaChinese Std. Type N/A

Chinese - Wangda

Shipping

Size Name TEU Built Shipbuilder M/E Gear Price Buyers Comments

FEEDERHEUNG-A LAEM

CHABANG1,785 2016

DAE SUN

SHIPBUILDING &,

S. Korea

MAN-B&W $ 20.0mJapanese - Kotoku

Kaiun

Size Name Dwt Built Shipbuilder M/E CBM Price Buyers Comments

LPG SISOULI PREM 50,400 1992 MITSUBISHI

NAGASAKI, JapanMitsubishi 76,932 $ 10.5m Chinese

LPG ENERGY ORPHEUS 49,999 1993 MITSUBISHI

NAGASAKI, JapanMitsubishi 76,928 $ 10.1m U. A. E. Based

Gen. Cargo

Containers

Gas Carriers

9

Activity picked up again this week, countering the overall trend that

was being seen the weeks prior. However, activity has mainly fo-

cused on “secondary” segments, showing the drastic decrease in

demo candidates being seen from the dry bulk and tanker sectors.

On the dry bulk side, there was a Supramax and another small bulk

carrier that were sent to be beached last week. At the same time, the

only activity reported on the tankers side was a 19-year-old Aframax

and 22-year-old MR that were recycled. Bangladeshi breakers remain

the key purchasing power in the market right now, but with steel

prices on the wain, there does seem to be some trouble brewing on

the horizon. Meanwhile, fundamentals in India have started to im-

prove now, attracting the interest from some cash buyers, but with

offering prices losing ground last week, activity still remains low for

the time being. In Pakistan, detrimental FOREX movements have

been in part the main reasoning behind the slower buying interest

seen there.


Reported Transac!ons

150200250300350400450500

Bangladesh India Pakistan China Turkey

US$/ldt

150200250300350400450500

Bangladesh India Pakistan China Turkey

US$/ldt

Indicative Wet Prices ($/ldt) last 5 years

23 Nov 16 Nov ±% Min Avg Max

Indian Sub Continent

Bangladesh 465 450 3.3% 245 396 490

India 450 445 1.1% 250 397 510

Pakistan 445 440 1.1% 245 396 500

Far East Asia

China 165 170 -2.9% 120 255 405

Mediterranean

Turkey 280 280 0.0% 150 258 355

Indicative Dry Prices ($/ldt) last 5 years

23 Nov 16 Nov ±% Min Avg Max

Indian Sub Continent

Bangladesh 455 440 3.4% 220 376 475

India 440 430 2.3% 225 377 500

Pakistan 435 425 2.4% 220 376 475

Far East Asia

China 155 160 -3.1% 110 239 395

Mediterranean

Turkey 270 270 0.0% 145 247 355

Type Vessel's Name Dwt Built Country Built Ldt US$/ldt Buyer Sale Comments

Offsh DEEPWATER FRONTIER 73,675 1999 S. Korea 39,882 $ 340/Ldt Indian As is Labuan for Green Recycling

OffshDEEPWATER

MILLENNIUM73,884 1999 S. Korea 30,318 $ 340/Ldt Indian As is Labuan for Green Recycling

Tanker NORDIC SPRITE 147,188 1999 S. Korea 23,172 N/A undisclosed

Tanker NORDIC AURORA 147,262 1999 S. Korea 23,098 N/A undisclosed

Platform OCEAN BARONESS 7,592 1973 U. S. A. 20,069 N/A Indian

Tanker BUNGA KELANA 4 105,815 1999 S. Korea 17,060 N/A Bangladeshi

Ro-ro AUTO ATLAS 23,069 1988 S. Korea 14,251 $ 455/Ldt Indian

Tanker CASSENDRA 40,584 1996 Croatia 9,596 N/A Indian

Bulker ZALEHA FITRAT 43,594 1986 Japan 8,086 N/A Bangladeshi

Cont ARCA 21,480 1994 S. Korea 7,007 $ 475/Ldt Indian

Bulker LADY MELIS 25,739 1992 Romania 6,563 $ 197/Ldt undisclosed AS IS ABIDJAN

Cont CNP ILO 14,700 1995 Germany 5,743 $ 452/Ldt Indian

10

25

35

45

55

65

75

85

95


US Dollar per Euro Yen per US Dollar

Iron Ore (TSI) Coal Price Index

Yuan per US Dollar US Dollar INDEX

Oil WTI $ Oil Brent $

19th 23rd November 2018

Germany's KfW IPEX-Bank is providing EUR 30m ($34m) to finance

Royal Arc!c Line's feedership newbuidings in Spain.

The Greenland owner ordered the two 1,100-teu vessels this year at

Zamakona for delivery in 2020.

The financing is backed by cover from the Spanish export credit insur-

er CESCE and includes funds from the Spanish CIRR (commercial inter-

est reference rate).

KfW said the vessels will use a "high amount" - 30% - of German com-

ponents.

The ships will be used to move cargo to remote towns and se'lements

along the Greenlandic coast that are not connected by land.

"We are pleased that our financing will support our long-standing and

valued customer Royal Arc!c Line with its fleet renewal plan," said

KfW IPEX-Bank management board member Andreas Ufer. Source:

Tradewinds

1.00

1.05

1.10

1.15

1.20

1.25

1.30

100.00

102.00

104.00

106.00

108.00

110.00

112.00

114.00

116.00

6.00

6.20

6.40

6.60

6.80

7.00

7.20

94.00

95.00

96.00

97.00

98.00

99.00

100.00

101.00

102.00

45.00

55.00

65.00

75.00

85.00

95.00

60.00

70.00

80.00

90.00

100.00

110.00

120.00

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00


Markets

10year US Bond 3.05 3.20 -4.7% 2.32 2.86 3.23

S&P 500 2,632.6 2,767.8 -4.9% 2,581 2,750 2,931

Nasdaq 6,939.0 7,449.0 -6.8% 6,762 7,415 8,110

Dow Jones 24,286.0 25,444.3 -4.6% 23,526 25,069 26,828

FTSE 100 6,952.9 7,049.8 -1.4% 6,889 7,424 7,877

FTSE All-Share UK 3,812.3 3,868.5 -1.5% 3,800 4,084 4,324

CAC40 4,947.0 5,084.7 -2.7% 4,925 5,344 5,640

Xetra Dax 11,192.7 11,553.8 -3.1% 11,066 12,470 13,560

Nikkei 21,646.6 22,532.1 -3.9% 20,618 22,462 24,271

Hang Seng 25,927.7 25,561.4 1.4% 24,586 29,185 33,154

DJ US Maritime 230.6 247.7 -6.9% 205.5 260.3 306.3

Currencies

$ per € 1.14 1.15 -0.8% 1.13 1.19 1.25

$ per ₤ 1.28 1.30 -1.5% 1.27 1.34 1.43

₤ per € 0.89 0.88 0.7% 0.00 0.88 0.91

¥ per $ 112.9 112.5 0.3% 105.0 110.5 114.1

$ per Au$ 0.72 0.71 1.5% 0.70 0.75 0.81

$ per NoK 0.12 0.12 -4.0% 0.12 0.12 0.13

$ per SFr 1.00 1.00 0.0% 0.92 0.98 1.01

Yuan per $ 6.95 6.93 0.2% 6.26 6.59 6.97

Won per $ 1,131.8 1,130.8 0.1% 1,055.0 1,096.5 1,143.5

$ INDEX 96.9 95.7 1.3% 93.9 97.6 101.4

Commoditites

Gold $ 1,226.2 1,226.2 0.0% 1,161.4 1,270.4 1,355.0

Oil WTI $ 50.2 68.6 -26.9% 50.2 65.3 74.9

Oil Brent $ 58.4 79.2 -26.3% 58.4 71.9 84.3

Palm Oil - - - 562.0 562.0 562.0

Iron Ore 68.9 73.5 -6.2% 62.5 69.7 80.0

Coal Price Index 87.0 99.7 -12.7% 85.5 97.9 109.0

White Sugar 338.0 379.0 -10.8% 305.0 347.9 399.3

last 12 months

11

AERAKIS GEORGEMOBILE: +30 6946 04 57 37

BOLIS ILIASMOBILE: +30 6937 02 65 00

DASKALAKIS GEORGEMOBILE: +30 6932 24 80 07

DRAKOGIANNOPOULOS STAVROSMOBILE: +30 6932 20 15 65

DRAKOGIANNOPOULOS SAKISMOBILE: +30 6944 88 58 08

FRANGOS HARRISMOBILE: +30 6936 57 67 00

HADJINASSIOS CHRISTOSMOBILE: +30 6972 14 17 80

KLONIZAKIS JOHNMOBILE: +30 6948 50 55 81

KOSTOYANNIS JOHNMOBILE: +30 6932 43 39 99

MANOLAS NIKOLASMOBILE: +30 6940 63 22 56

MOISSOGLOU THEODOROSMOBILE: +30 6932 45 52 41

PAPAIOANNOU ANTONISMOBILE: +30 6936 54 80 22

PAPOUIS THASSOSMOBILE: +30 6944 29 49 89

PRACHALIAS ARGIRISMOBILE: +30 6947 62 82 62

SKOURTIS GEORGEMOBILE: +30 6936 93 62 12

STASSINAKIS JOHNMOBILE: +30 6972 60 92 09

TSALPATOUROS COSTISMOBILE: +30 6932 20 15 63

VARVAROS PLUTONMOBILE: +30 6937 25 15 15

Maritime Research & ValuationsCHASAPIS THOMAS

MOBILE: +30 6947 82 91 72LAZARIDIS GEORGE

MOBILE: +30 6946 95 69 40VAMVAKAS YIANNIS

MOBILE: +30 6942 94 71 87

Sale & Purchase

ALLIED SHIPBROKING INC. 48, Aigialeias Street, 4th Floor, Maroussi 151 25, Greece Tel: +30 210 45 24 500 Fax: +30 210 45 25 017/ 019 E-mail: [email protected]

ALLIED CHARTERING S.A. 48, Aigialeias Street, 4th Floor, Maroussi 151 25, Greece Tel : +30 210 42 88 100 Fax: +30 210 45 24 201

E-mail: [email protected]

E-mail: [email protected]


ALEXOPOULOS PANOS MOBILE: +30 6944 34 66 15

ARGYRI MARINAMOBILE: +30 6983 11 32 98

DAOULAS SPYROS MOBILE: +30 6932 27 88 40

FLOURIS DIMITRISMOBILE: +30 6937 81 32 39

KAILAS VAGGELISMOBILE: +30 6942 48 05 69

KANELLOS DIMITRIS MOBILE: +30 6945 07 47 85

KAPPA ANGELIKI MOBILE: +30 6975 85 60 84

KARAMANIS COSTASMOBILE: +30 6941 54 14 65

PATELIS DIMITRIS MOBILE: +30 6944 04 43 61

THEODOTOS ARISTOFANIS MOBILE: +30 6951 79 82 89

TSALPATOUROU ANASTASIAMOBILE: +30 6951 79 82 91

TSALPATOUROU MARGARITA MOBILE: +30 6934 74 22 16

Tanker CharteringFLOURIS JOHN

MOBILE: +30 6955 80 15 03 FOUROULI STELLA

MOBILE: +30 6947 35 68 48PAPANTONOPOULOS NICOLAS

MOBILE: +30 6945 23 21 88

Dry Cargo Chartering

12

Disclaimer

The informa!on contained within this report has been provided by Allied Shipbroking Inc. and Allied Chartering S.A. for general informa!on

purposes.

All the informa!on is compiled through Allied Shipbroking Inc. and Allied Chartering S.A. databases, as well as from other market sources. De-

spite having taken reasonable care in the gathering, filtering and audi!ng of this informa!on and believing that the informa!on is accurate and

correct, it may s!ll contain errors, as a lot of the views regarding market levels are par!ally derived from es!mates and/or subject judgments

while the reported transac!on ac!vity is gathered from several sources and rumors, some of which are some!mes hard to validate in full their

accuracy and truthfulness. As such we advise that the informa!on be taken cau!ously, while advising that this informa!on does not obviate the

need to also make further enquiries and seek further informa!on in order to obtain a more accurate outlook. As we make no warran!es of any

kind, both expressed or implied, as to the completeness, accuracy, reliability or completeness of the informa!on herein, Allied Shipbroking Inc.

and its connected persons shall not be held liable to any loss or damage of any kind, including direct, indirect and/or consequen!al damages

caused by negligence of any kind on our part.

Any choice to rely on this informa!on provided is strictly at the recipient’s own risk.

This report and its informa!on is confiden!al and solely for the internal use of its recipients, while any re-produc!on or re-distribu!on of the

report and its material is strictly prohibited without prior permission from Allied Shipbroking Inc.

If you wish to subscribe to this or any other report we produce, please contact us directly.

Appendix

Aggregate Price Index quoted on the first page for both Newbuilding and Secondhand relates to the current average prices levels compared to

where they stood at 1st January 2010 (i.e. index 100 = 01/01/2010)

Demoli!on market average price index refers to the combina!on of the average prices currently offered in the Indian Sub-Con!nent, Far East

and Mediterranean.

Period rates currently relate to Capesize of 180,000dwt, Panamax of 76,000dwt, Supramax of 56,000dwt and Handysize of 33,000dwt on the

Dry Bulk side and VLCC of 250,000dwt, Suezmax of 150,000dwt, Aframax of 115,000dwt and MR of 52,000dwt on the Tankers side respec-

!vely.

In terms of Secondhand Asset Prices their levels are quoted based on following descrip!on:

All vessels built to European specifica!ons by top Japanese shipbuilders, with dwt size based on the below table.


Resale 5 year old 10 year old 15 year old

Capesize 180,000dwt 180,000dwt 170,000dwt 150,000dwt

Panamax 82,000dwt 82,000dwt 76,000dwt 74,000dwt

Supramax 62,000dwt 58,000dwt 56,000dwt 52,000dwt

Handysize 37,000dwt 32,000dwt 32,000dwt 28,000dwt

VLCC 310,000dwt 310,000dwt 250,000dwt 250,000dwt

Suezmax 160,000dwt 150,000dwt 150,000dwt 150,000dwt

Aframax 110,000dwt 110,000dwt 105,000dwt 95,000dwt

MR 52,000dwt 45,000dwt 45,000dwt 45,000dwt

Documents

23 Nov - Hellenic Shipping News Worldwide · 2018. 11. 26. · 1 23 Nov ±∆ ±% BDI 1,093 p 62 6.0% BCI 1,358 p 301 28.5% BPI 1,376 q -77 -5.3% BSI 952 q -17 -1.8% BHSI 635 q -11